Increase in oil exports contributes to budget balance – ministry

BAGHDAD / IraqiNews.com: The increase in Iraq’s crude oil exports to 1.905 million barrels per day during May 2009 will help to overcome the budget deficit, the finance minister’s adviser for banking and financial affairs said on Tuesday. “Iraq’s oil price is currently 52-54 U.S. Dollars per barrel,” Dhiaa Khayon told IraqiNews.com news agency. “If the Oil Ministry maintains this level of oil export, the deficit in the budget will be overcome,” he said. MH (P)/SR 1